Boston real estate thoughts

Boston Condos for Sale

Boston real estate thoughts

They feel like the good old days but it was only 4-5 years ago that we could count on 200-300 listings priced under $2,000,000 to hit the market every month. It caused some complacency and pickiness among buyers, but now that the choices have narrowed so quickly, there is a lingering panic in the air.

Those buyers who only qualify for $1,000,000 are forced to consider other choices further out, and for many that means out of state.

Those in the $1M to $2M market are shocked to see about a quarter of the number of monthly listings we used to see, but at least they still have a shot – though what you get for that money has been greatly diminished. It’s understandable why the frenzy conditions are still happening though.

Thankfully, a lot of affluent people want to live here!

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The drop in Boston condo sales is being attributed in part to mortgage rates, which have been on the rise since the Federal Reserve first hiked interest rates earlier in the year. Boston condo sales may stabilize as mortgage rates flatten below June’s 6 percent peak.

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Boston real estate thoughts

Asking a real estate broker if it’s a good time to buy a home is like asking an alcoholic if it’s a good time to drink a beer.

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Downtown Boston Real Estate Search

Boston real estate thoughts

U.S. household net worth surged to an all-time high in the second quarter, powered by a buoyant stock market and a record $1.2 trillion jump in real estate valuations.

A Federal Reserve report on Thursday showed that household net worth rose by $5.8 trillion, or 4.3 percent to $141.7 trillion in the period, according to Bloomberg. In June alone, home prices rose 18.6 percent, the biggest increase in three decades.

To the relief of those seeking a home, good news may be on the way: The housing market across the country began showing signs of stabilization last month.

Meantime, more people are investing in stocks: Equities as a percentage of household assets rose to 29.5 percent in the quarter from 25.6 percent two years earlier as those valuations increased by $3.5 trillion. At the same time, net private savings rose by $2.9 trillion in the quarter, adding to $4.8 trillion in the prior period.

Boston Condos for sale Sale and Rent

Boston condos for sale

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Boston Real Estate for Sale

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Why is it so hard to have a conversation about race? Except for declared racists, segregationists and white supremacists, everyone agrees that racism is wrong. People of faith also believe that racism is a sin.

Why is it difficult, then, to have a conversation about race? Black Lives Matter” (BLM) has become a flash point in our community. A passerby recently stopped me in front of St. Brigid Church in Lexington, MA and berated me because of the BLM sign out in front. He said that conservative talk radio had convinced him that it was a political statement endorsing anti-police rhetoric and violent anti racist demonstrations. Others have suggested that BLM strikes at the heart of our core values.

Another passer by, a Black woman, disliked BLM because she believes that we are all privileged and that BLM treats all Black people as victims. Some Black parishioners have spoken about the pride they experience when driving by St. Brigid Church and seeing the large BLM sign that some other n erected.

(The BLM sign at the Lexington church I attend was stolen recently.) Other parishioners have spoken favorably about the placement of BLM signs because they view them as calling our attention to the basic human rights issues of racial prejudice and unjust discrimination. Is systemic racism currently part of the fabric of our country? Has the death of George Floyd brought about a new awareness of racism? Are discussions about racism and signs like BLM political in nature or something else? What should be our response to all of this as a community?

Just some thoughts I was thinking about

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Original Boston real estate thoughts:

Low mortgage interest rates will support Boston real estate housing in 2020 but economic uncertainty and affordability issues will mute sales growth.

With interest rates expected to remain near three-year lows, buyers have more purchasing power than in years past, but they may be reluctant to get off the sidelines because of economic and political uncertainties. Additionally, an affordability crunch will cut into demand in some regions of downtown Boston, where affordability is significantly below national levels. These factors together could subdue sales growth next year.

The average for 30-year, fixed mortgage interest rates will dip to 3.7 percent in 2020, down from 3.9 percent in 2019 and 4.5 percent in 2018 and will remain low by historical standards..

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Click Here Beacon Hill recent sales data for the last 30 days

Boston real estate thoughts

Boston real estate thoughts

Boston Condos for Sale